Dusk Network peaked during the high of the 2021 bull run in April. Afterwards, the token fell prey to brutal market corrections but that period has ended long ago. The cryptocurrency began consolidating during November; however, it was not able to break upwards and suffered from a steep downturn but instead of moving into corrections, it moved upwards instead. Dusk token has been on a steep uptrend as December began and the bulls are going strong for the token. At the time of writing, the cryptocurrency stood at its new all-time high price of $0.61 – with a phenomenal surge of more than 30% during the daily timeframe. Dusk Network stands at a market rank of #191 with the capitalization growing steadily amidst the bullish pressures.
What is Dusk Network?
Dusk Network is a privacy-centered blockchain aimed at financial applications. In a market that advocates for transparency, privacy issues have become rampant which has led to the increasing popularity of cryptocurrencies that provide anonymity and privacy. The network aims to address the needs of the financial markets while ensuring safety and security of data through its privacy-centered approach. It employs Zero-Knowledge Proofs along with a Proof-of-Stake leader extraction-based consensus protocol. Moreover, it also provides native confidential smart contracts through its Confidential Security Contracts standard.
Biannual report
Dusk Network released its second biannual report for 2021 in December which outlined the various positive developments that have been taking place in the network. The positive outlook showed by the biannual report has resulted in the strengthening of the community’s confidence which may have contributed to the current surge of the cryptocurrency.
The vision of the network is to create the next generation of capital markets by enabling a blockchain-powered financial ecosystem. The report detailed about the growing community along with various firms taking notice of the network’s increasing popularity. Over the course of the time since the previous biannual report, the Dusk Network has published various research papers that have highlighted the important role of the network’s offering. Moreover, the team has also published a lot of Release Candidate Libraries in order to open up the internal workings of the network. Along with monthly development updates, the development process has also been made available on GitHub – promoting transparency and building the trust of the community.
Apart from promoting transparency of the network, the team is also working full-force on the development of the testnet. The testnet is to be launched on February 1st, 2022 – with the community in anticipation.
